FEDERAL AGRICULTURAL MORTGAGE CORP
For the period ended Mar 31, 2026. Filed May 5, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed May 5, 2026
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Balance Sheet Review
The following table summarizes our balance sheet as of the periods indicated:
Table 19
| As of · Change | ||||
|---|---|---|---|---|
| March 31, 2026 | December 31, 2025 | $ | % | |
| (in thousands) | ||||
| Assets | ||||
| Cash and cash equivalents | $773,935 | $931,067 | $(157,132) | (17)% |
| Investment securities | 18,218,995 | 17,550,379 | 668,616 | 4% |
| Loans, net of allowance | 14,822,254 | 13,840,378 | 981,876 | 7% |
| Loans held in trusts | 2,389,381 | 2,480,898 | (91,517) | (4)% |
| Other | 524,681 | 567,435 | (42,754) | (8)% |
| Total assets | $36,729,246 | $35,370,157 | $1,359,089 | 4% |
| Liabilities | ||||
| Notes Payable | $32,236,308 | $30,822,570 | $1,413,738 | 5% |
| Debt securities of consolidated trusts held by third parties | 2,275,001 | 2,365,435 | (90,434) | (4)% |
| Other | 500,916 | 463,203 | 37,713 | 8% |
| Total liabilities | $35,012,225 | $33,651,208 | $1,361,017 | 4% |
| Total equity | 1,717,021 | 1,718,949 | (1,928) | —% |
| Total liabilities and equity | $36,729,246 | $35,370,157 | $1,359,089 | 4% |
Assets. The increase in total assets was primarily attributable to new loan volume and a larger investment portfolio.
Liabilities. The increase in total liabilities was primarily due to an increase in total notes payable to fund the acquisition of loan volume.
Equity. The decrease in equity was primarily driven by a decline in accumulated other comprehensive income, reflecting higher unrealized losses on available-for-sale securities during the period due to market conditions, partially offset by an increase in retained earnings.
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